Wednesday, 07 October 2015 17:41
COLOMBO: The Sri Lankan rupee ended firmer on Wednesday as a private bank sold dollars amid tepid demand for the greenback from importers, dealers said.
The rupee ended at 140.55/65 per dollar, compared with Tuesday’s close of 141.05/141.10.
Dealers said the two state-run banks through which the central bank directs the market were not seen selling dollars, but a local private bank sold the US currency, which helped the rupee to trade higher.
“Rupee ended firmer as a private bank sold dollars. Not sure whether it’s exporter (dollar) sales, but that eased the pressure on the rupee,” said a dealer who declined to be identified.
Dealers also said the demand for dollars from importers is reducing ahead of the government’s budget in November.
The rupee hit a record low of 141.40 per dollar on Sept. 28, but has recovered over the past few days after a state-run bank sold dollars.
Japanese Prime Minister Shinzo Abe pledged about 45.4 billion yen ($ 377 million) in infrastructure aid to Sri Lanka on Tuesday in a meeting with his counterpart, Ranil Wickremsinghe.
